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KAVANAU REAL ESTATE TRUST v. DEBNAM

No. 7814SC495.

254 S.E.2d 638 (1979)

KAVANAU REAL ESTATE TRUST, Plaintiff, The Bank of New York, Assignee of Plaintiff, v. Lee A. DEBNAM, a general partner of Yorktowne Village, Ltd., and Algie Stephens, a general partner of Yorktowne Village, Ltd., trading and doing business as Yorktowne Village, Ltd., a General Partnership, Defendants.

Court of Appeals of North Carolina.

May 15, 1979.

Attorney(s) appearing for the Case

Newsom, Graham, Strayhorn, Hedrick, Murray, Bryson & Kennon by Josiah S. Murray, III, Durham, for plaintiffs-appellees.

Seay, Rouse, Johnson & Harvey by James L. Seay and Ronald H. Garber, Raleigh, for defendant-appellant Lee A. Debnam.

Sanford, Cannon, Adams & McCullough by J. Allen Adams, E. D. Gaskins, Jr., and Catharine B. Arrowood, Raleigh, for defendant-appellant Algie Stephens.

MORRIS, Chief Judge.

The parties have narrowed the questions presented on appeal to two: (1) Did the trial court err in concluding that G.S. 45-21.38 (the "anti-deficiency statute") did not bar an in personam judgment on a purchase money note where there was no recourse against the security evidenced by the deed of trust on the leasehold interest? (2) Did the trial court err in entering summary judgment prior to...

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